Xeris Biopharma (NASDAQ:XERS) Shares Up 5.2% – Here’s What Happened

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS)’s stock price traded up 5.2% during mid-day trading on Monday. The company traded as high as $9.38 and last traded at $9.5750. 460,484 shares traded hands during trading, a decline of 75% from the average session volume of 1,858,300 shares. The stock had previously closed at $9.10.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Barclays increased their target price on shares of Xeris Biopharma from $9.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Wall Street Zen upgraded Xeris Biopharma from a “hold” rating to a “buy” rating in a research report on Saturday, September 19th. Weiss Ratings cut Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, Leerink Partners boosted their price objective on Xeris Biopharma from $12.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, September 10th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Xeris Biopharma has an average rating of “Hold” and an average target price of $12.80.

Xeris Biopharma Price Performance

The company’s 50-day simple moving average is $8.36 and its 200 day simple moving average is $7.18. The company has a market cap of $1.76 billion, a PE ratio of -87.68 and a beta of 0.70. The company has a debt-to-equity ratio of 17.00, a quick ratio of 1.02 and a current ratio of 1.45.

Xeris Biopharma (NASDAQ:XERS) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.19). Xeris Biopharma had a negative net margin of 5.12% and a positive return on equity of 338.21%. The company had revenue of $92.10 million during the quarter, compared to analyst estimates of $90.12 million. On average, sell-side analysts predict that Xeris Biopharma Holdings, Inc. will post 0.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Beth Hecht sold 16,666 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $8.49, for a total value of $141,494.34. Following the sale, the insider directly owned 1,127,796 shares in the company, valued at approximately $9,574,988.04. This trade represents a 1.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin McCulloch sold 15,000 shares of Xeris Biopharma stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $8.49, for a total transaction of $127,350.00. Following the sale, the insider directly owned 1,639,208 shares of the company’s stock, valued at approximately $13,916,875.92. This trade represents a 0.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 224,998 shares of company stock worth $1,847,219. Company insiders own 4.35% of the company’s stock.

Institutional Trading of Xeris Biopharma

Hedge funds and other institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new stake in Xeris Biopharma during the 2nd quarter worth about $74,000. Allworth Financial LP raised its position in shares of Xeris Biopharma by 86.4% during the 2nd quarter. Allworth Financial LP now owns 4,315 shares of the company’s stock worth $34,000 after acquiring an additional 2,000 shares in the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Xeris Biopharma during the 2nd quarter worth about $314,000. Corient Private Wealth LP purchased a new stake in Xeris Biopharma during the second quarter worth approximately $1,458,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Xeris Biopharma during the second quarter worth approximately $89,000. 42.75% of the stock is currently owned by institutional investors and hedge funds.

Xeris Biopharma Company Profile

Xeris Biopharma Holdings, Inc (NASDAQ:XERS) is a specialty pharmaceutical company focused on developing and commercializing therapies using proprietary formulation and drug-delivery technologies. Its platforms, including XeriSol and XeriJect, are designed to enable liquid or ready-to-use formulations of medicines that may otherwise require refrigeration, reconstitution, or administration by a healthcare professional.

The company’s commercial products include Gvoke, a ready-to-use glucagon injection for the treatment of severe hypoglycemia; Keveyis (dichlorphenamide), an oral therapy for primary periodic paralysis; and Recorlev (levoketoconazole), an oral treatment for endogenous hypercortisolemia in adults with Cushing’s syndrome.